Technology Author: Fuller Wang, Yuanxi Ma Editor: Fuller Wang May 18, 2022 06:56 PM (GMT+8)

According to the GNSS and LBS Association of China's White Paper on the Development of China's Satellite Navigation and Location Services Industry (2022), China's Satellite Navigation and Location Services Industry grew by 16.29 % year over year, reaching CNY 469 billion.

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The output of the chip, device, algorithm, software, data, and infrastructure industries which are directly related satellite navigation industry, raised approximately 12.28%, to CNY 145.4 billion. Other related industries also increased by 18.20%, to CNY 323.6 billion.

 In 2021, revenues from high-precision positioning services reached a total of CNY 15.19 billion, up 33% from the previous year. With a CAGR of 24.5 %, the market for high-precision positioning services is booming. Until March 2022, Qianxun SI, a high-precision positioning service provider powered by the BeiDou Navigation Satellite System, had served over 1.1 billion users worldwide, with a total of over 2000 billion times served and geographic coverage of more than 230 countries.

The number of use cases for high-precision positioning services grows, as the BeiDou Navigation Satellite System becomes more widely used. BeiDou, for example, will enable cell phone location services on a sub-meter scale. The number of cell phones shipped with Qianxun SI service has surpassed 20 million, with well-known brands like Huawei, Xiaomi, and Vivo contributing.

Additionally, the BeiDou system is widely used on shared and electric bicycles. The number of shared bicycles using the BeiDou system has surpassed 5 million, as the system can significantly improve tracking, payment, and management processes.